Brazil is another step closer to casino and gambling legalisation.
Brazil.- The Senate’s Special Committee on National Development approved yesterday a gambling bill to add further games to the legalisation project. Brazilian Plenary would begin the debates to close the expected decision on the issue. It is estimated that this Latin American market would become one of the biggest in the world in its first year once it is set.
The Brazilian Senate has been dealing with the international expectation of casino legislation in the past few years. Casino companies are positive the legalisation would be issued before 2017. The final version of the bill was presented by the president of the Senate, Renan Calheiros (PMDB-AL).
The law passed yesterday was introduced by Senator Ciro Nogueira (PP-PI) and would define the list of games which could be explored, as well as the criteria for authorisation, the requirements for members and the rules for distribution of prizes. Furthermore, the bill would set the tax policy. According to the text, casinos, bingos and lottery known as “jogo do bicho,” besides electronic betting services, would be on the list.
Legislators would impulse the legalisation soon, as several studies revealed that the country’s development possibilities are losing against large foreign investors in the tourism sector. Based on information from the World Lottery Association, a report shows that only in the lottery market the games reached a total of US$400 billion worldwide in 2014, and Brazil had only contributed with a 1 percent share of lotteries managed by Caixa in that total.
Senator Bezerra Coelho (PSB-PE) explained that the gambling legalisation in Brazil could be a key policy to increase tax revenues, employment rate and national incomes. A report estimates that the industry would generate R$29 billion (US$8,96 billion) in taxes during the next three years. “I believe we have been able to address the suggestions and set the rules to prevent money laundering crimes,” Coelho added.